July 18. 2107- by John Blair, valleywatch.net editor (disclaimer- I own 198 shares of Vectren stock (VVC)
One would think that a major electric utility that can afford to pay its CEO almost $6 million per year and charges among the highest rates in the nation, would at least do well in “customer satisfaction.” Not so with Vectren Corporation, which ranked third from last in the J.D. Power 2017 Electric Utility Residential Customer Satisfaction Study. http://www.jdpower.com/press-releases/jd-power-2017-electric-utility-residential-customer-satisfaction-study
Already Vectren has huge electric rates for their residential customers that must subsidize the rates of large industrial customers as CEO Carl Chapman has stated to me personally, “our industrial rates are competitive.”
I responded, “Well, that pisses me off since myself and lots of other people struggle just to pay your high residential rates.”
Should I call it a subsidy? Vectren would likely say no but that is what it is residential customers pay just to have their meter read and lines maintained. Currently, they pay upwards of $.12/kilowatt hour, about twice what industrial customers pay. When the “Fixed Charge” is added in their rates can go as high as $1/kWh as happened at the Valley Watch office last month because we do everything we can to conserve and only used 18 kW but had a bill over $20 on our three phase meter that heats and cools our office.
Presently, Valley Watch and the Citizens Action Coalition are engaged in an effort to mitigate Vectren’s latest rip-off, a $514 million rate increase that will fall mainly on residential and small commercial customers due to a $13+ increase in the Fixed Charge which together with absorbent usage charges could make Vectren the highest ratepayers outside Hawaii in the nation. And for what? Updated, new and Mercedes style infrastructure that is hard to prove is even needed. Of course, Vectren claims that it is for safety and reliability.
CAC and Valley Watch have presented testimony in our challenge to their current increase which will most likely be ignored by the Indiana Utility Regulatory Commission since Vectren and the “official agency” The Office of Utility Consumer Counselor that is supposed to represent customer’s interests have already “agreed” on a settlement and did so prior to even hearing testimony from the public at the sham public hearing held May 2 in Evansville. Continue reading